HCMC – The southern province of Binh Duong has inked a cooperation memorandum with Truong Hai Auto Corporation (THACO) for the establishment of an engineering supporting zone costing VND26,000 billion.
Binh Duong Province and THACO will begin launching the project in 2023, with the provincial government in charge of supporting the legislative procedures, paving the way for the enterprise to conduct the necessary research and implement processes.
Recently, Binh Duong Province authorities and THACO representatives have conducted business tours to potential project locations.
Binh Duong Province officials have sought to attract high-tech investments by carrying out activities as part of its smart city planning direction.
The development of the industrial supporting zone is planned to stimulate local economic growth and facilitate in the expansion of businesses in Binh Duong Province.
More significantly, the province will play an important role in attracting investment inflows and improving collaboration among the business community, the local media reported.
The province of Binh Duong presently operates 29 of the 34 permitted industrial parks.
The province came in second nationwide in foreign direct investments, behind HCMC, with 4,079 projects worth up to US$40 billion.